Best Home For 1 To 3 Mil Bht

[pluto72]

Hi all i have a Kasikorn current acc [thanks for the advice on how to do] i currently use tourist visas

thank you Cardiff consulate UK, I stay with GF near Bang Yai Bangkok, I am looking for a highest

interest home for up to 3mil thb preferably monthley interest if possable, rates in UK shit, I am also

thinking of a retirement visa maybe this year so, would want 800K in a sutable acc, Can i use a fixed

time and interest acc for this purpose [best interest probably]. I am flexable on the type of accounts

just looking for best income and usable for ret visa if possable, I have Tabean bahn and the 12 month

thai driving licence, [Thanks for the info on here and GF] and i am not into any type of investments,

No risk.

Sorry for spelling and punctuation no spellchek on this comp.

Thanks for looking and any advice forthcoming.

Best regards Mike

[meatboy]

rates are not that good here at the moment,i have not seen any decent accs.that pay monthly interest all fixed accs.interest is paid on maturity,less 15%tax which can be reclaimed at the end of the thai tax yr.31dec.we had quite a large sum to put into a fixed acc.best was tgb.3.30% over 399days that is no longer available.monday of this week i had my extension money in a 7month fixed acc.mature bkkb.its now at 2.80%.immigration allows fixed accs.but they dont count the interest till its matured and added to the acc.pass book and that has to be in there 2months before your ext.is due.its no good looking at offshore either unless you want to take a chance with bank of india punjab.

[williewolf]

Deposited my extension money in Kasikorns Happy Senior a/c. Pays interest monthly into my current a/c but you have to be over 55 to qualify

[Khun Jean]

There is a (government) bank that besides giving you a small interest you also play a lottery. From family members experience they found that having around 500.000 in that bank they 'win' every month a prize that would be higher then the normal interest rate.

A nephew who put in 50.000 won 10.000 the first month so he was very happy with that.

Wife is shopping so cannot ask her for the name of this bank as it slipped my mind, maybe someone else here knows.

[Sophon]

There is a (government) bank that besides giving you a small interest you also play a lottery. From family members experience they found that having around 500.000 in that bank they 'win' every month a prize that would be higher then the normal interest rate.

A nephew who put in 50.000 won 10.000 the first month so he was very happy with that.

Wife is shopping so cannot ask her for the name of this bank as it slipped my mind, maybe someone else here knows.

Government Savings Bank (the pink one).

Sophon

[BlackPuddingBertha]

Deposited my extension money in Kasikorns Happy Senior a/c. Pays interest monthly into my current a/c but you have to be over 55 to qualify

That seems to be paying 2.7% on sums between 100K and 1M only. You can get 3% on instant access from Standard Chartered for all sums over 10K without being over 55. And I'm getting 3.6% on a Kasikorn step-bond.

There are some other benefits with that account though.

[meatboy]

There is a (government) bank that besides giving you a small interest you also play a lottery. From family members experience they found that having around 500.000 in that bank they 'win' every month a prize that would be higher then the normal interest rate.

A nephew who put in 50.000 won 10.000 the first month so he was very happy with that.

Wife is shopping so cannot ask her for the name of this bank as it slipped my mind, maybe someone else here knows.

the wf.bought 2,000 tks.last week,each one is 50bht.draw takes place on the 16th of each month.thai gov.savings bank.

see my post in the bank int.rates 8th jan.

[pluto72]

Thanks for replys.

Meatboy the interest rates in the UK are crap at the mo about 2.20 instant access so 2.80 seems ok after getting 15% back.

williewolf thanks for that im 58 and have kasikorn current acc already so that may be the way to go as it can work for

RET visa as well.

The lottery acc I know the GF would like that one might be worth a punt at 100k to 500k but my luck has never been any

good that way,

BlackPudingBertha I will have a look at steped bond whatever that is, and standerd charterd sounds ok not herd of them, must

take a look, reaserch and more reasearch.

Thanks again, best regards pluto, mike

[lopburi3]

You will not be able to use bond/fund type accounts for retirement from any reporting I have seen as money must be available in cash on demand. So you are limited to normal saving (passbook) type accounts or cash fixed deposit term accounts (that allow withdrawal with only loss of interest).

[pluto72]

Thanks for that lopburi3 i thought it was cash has to be available on demand, Just looking for the best returns preferably monthly and better than

the UK rates.

best regards mike

[meatboy]

There is a (government) bank that besides giving you a small interest you also play a lottery. From family members experience they found that having around 500.000 in that bank they 'win' every month a prize that would be higher then the normal interest rate.

A nephew who put in 50.000 won 10.000 the first month so he was very happy with that.

Wife is shopping so cannot ask her for the name of this bank as it slipped my mind, maybe someone else here knows.

the wf.bought 2,000 tks.last week,each one is 50bht.draw takes place on the 16th of each month.thai gov.savings bank.

see my post in the bank int.rates 8th jan.

this lottery acc.wont suit you as its a 3yr.term,after 1yr.the tkts.are worth 50.50bht,2yrs.51.125bht,3yrs 52.75bht.if you cash any in you dont get bak what you paid for them for the first yr.also any winnings goes into a current acc.wether you will qualify i dont know as i had to have a letter of residency,copy of my visa status and also they took a photo copy of my tax id.card.if you have 1-3mill.why not put the amount required into a fixed term and leave it there and try and find a home for the rest,that kasikorn step bond sounds ok.but be wary the banks here will try and sell you anything.i have always liked the fixed term step accounts,the last one i had was 15months paying 1.25% 5months,2.25% 5months,4.25% 5months av.2.58%.then i have a 555day fixed at 3.65% so there are some decent rates out there its finding them is the problem as if its not a bank promotion they will tell you nothing,also when it comes to claiming tax back you have to go and register at the local tax office.so there you are,is it one taff to another?

[IMA_FARANG]

Since you're planning on keeping that 800K Thai Baht in your "retirement" account you should check carefully with someone in your local immigration.

Some immigration offices do let you keep the 800K in a fixed rate term account, but some interpret the rules as a savings account only. Depends on what immigration office you happen to get.

Be warned that some immigration offices officers may insist that the funds for that 800K be readily available on demand, Often they won't allow you to keep the funds in any kind of account where needing to give a notice period before you can withdraw your money is required.

That's usually a local office interpretation of the rules, but some immigraation offices insist on it.

[meatboy]

Since you're planning on keeping that 800K Thai Baht in your "retirement" account you should check carefully with someone in your local immigration.

Some immigration offices do let you keep the 800K in a fixed rate term account, but some interpret the rules as a savings account only. Depends on what immigration office you happen to get.

Be warned that some immigration offices officers may insist that the funds for that 800K be readily available on demand, Often they won't allow you to keep the funds in any kind of account where needing to give a notice period before you can withdraw your money is required.

That's usually a local office interpretation of the rules, but some immigraation offices insist on it.

yes that is always a possiblity i have never had a problem with fixed accs.but last yr.i did get asked what were we living on,i have a current acc.at the same bank which i use when having funds sent from the uk.i have always found them first class at korat imm.